Bloomberg News

Sub-Sahara Africa Stocks: Ecobank Ghana, Kenya Commercial Bank

October 26, 2011

Oct. 26 (Bloomberg) -- Kenya’s All-Share Index rose to the highest in more than a week, adding 0.4 percent to 55.35 by the 3 p.m. close in Nairobi, the capital.

The Nigerian Stock Exchange All-Share Index closed at its highest in more than two weeks, gaining 0.5 percent to 20,376.26 by 2:30 p.m. in Lagos, according to data compiled by Bloomberg. The Ghana Stock Exchange Composite Index added 0.8 percent to 1,007.6 by the 3 p.m. close in Accra. Namibia’s FTSE/Namibia Overall Index dropped for the first time in four days, shedding 0.3 percent to 801.66 by the 4 p.m. close in Windhoek. The stock exchange in Mauritius was closed for the Divali public holiday.

The following shares rose or fell in sub-Saharan Africa, excluding South Africa. Stock symbols are in parentheses.

Ecobank Ghana Ltd. (EBG GN), the second-biggest lender by market value in the West Africa nation, rose the most in more than three weeks as profit increased in the nine months through September. The stock 4.6 percent to 3.4 cedis, the biggest increase since Sept. 30.

Kenya Commercial Bank Ltd. (KNCB KN), the East African nation’s biggest lender by assets, jumped the most since March 2010 after saying nine-month profit surged 43 percent as earnings from loans increased. The shares rose for a third day, adding 5.7 percent to 15.80 shillings.

--Editors: Linda Shen, Ana Monteiro

To contact the reporter on this story: Stephen Gunnion in Johannesburg at sgunnion@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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